How to use the Post office FD calculator online in 2021?

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office FD calculator

If you are searching for an alternative to bank fixed deposit, you can evaluate the post office time deposit also known as the post office fixed deposit. It is an FD scheme provided by the Indian Postal Services that comes with a flexible tenure and high-interest rate. 

As the interest rate and tenure of a postal FD are fixed, you can calculate its returns online by using a post office FD calculator. For calculating the post FD returns, you will need to adhere to the following steps: 

Step 1: The online post office FD calculator is available on many websites and it is totally free to use! Therefore, you can easily search it online.

Step 2: Once you find the calculator, you will need to enter deposit amount, tenure, and interest rate. After entering these values, you can click on the ‘Calculate’ button and the interest gains and returns will be automatically displayed on your screen. 

Post office FDs provide good returns on maturity. However, if you are in search of better flexibility in terms of investment method, tenure, and periodic interest payouts then you can invest in a corporate FD like Bajaj Finance FD. It also provides a way better interest rate than post office FD plans. Apart from better returns, you will also get other benefits on investing in its FD plans:

  • Higher FD rate

Bajaj Finance FD provides an interest rate of up to 7.25%. Let’s say you invest Rs. 5,00,000 in a post office FD for 5 years and lock-in the same amount for the same tenure in a Bajaj Finance FD simultaneously. The interest and returns offered by each of these deposit plans are described below:

FD PlanAmountTenorInterest RateInterest Maturity Amount
Post Office FDRs. 5,00,0005 years6.7%Rs. 197,033Rs. 697,033
Bajaj Finance FD Rs. 5,00,0005 years 7.25%Rs. 2,09,507Rs. 7,09,507

As you can see that you will earn much more interest if you invest in the Bajaj Finance FD. The post office FD provides a maximum interest rate of 6.7% and provides yearly interest payouts. 

  • Senior Citizen FD 

An additional 0.25% interest rate over the regular FD interest rate is provided to retiree investors i.e. individuals who are above 60. If you qualify as a senior citizen then you can benefit from this extra FD rate. 

Even NRI FD accounts are available with a tenure range of 12 to 36 months. An interest rate of up to 7% is offered on these FD accounts and the additional FD rate to senior citizens is applicable here as well. 

  • Seamless online investment 

The process to invest in a Bajaj Finance FD is completely online now. Therefore, you can fill the online FD form and submit the documents online by using the KYC process. 

Payment can be made via UPI ID or net banking but for deposits higher than Rs. 1,00,000 only the option of netbanking is available. The good thing about this is that you get 0.10% excess interest rate for selecting the online process of investment. 

  • Better tenure options

Post Office FDs come with a tenor of 1, 2, 3 and 5 years whereas you get a flexible tenure varying from 12 to 60 months on investing in Bajaj Finance FD. If you require some additional funds for managing your monthly budget then you can invest in its non-cumulative fixed deposit plans. To find the monthly interest payout you can use the FD amount calculator that is integrated on its site. 

These deposits allow you to choose monthly, quarterly, six-monthly, and yearly interest payouts according to your financial requirements. Bajaj Finance Fixed Deposit has received high credit ratings by CRISIL and ICRA for being a stable investment option. Therefore, your deposits are safe with this FD plan.

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